7-Unit Multifamily in Longview, TX

🚨 LONGVIEW, TX: 7 UNITS, SELLER FINANCED, $30K IN 🚨

FOR OPERATORS, NOT PASSIVE INVESTORS. 5.75% FIXED. NO BANK. 100% LEASED.

📍 Longview, East Texas | 7 units on one lot | Built 1943, Class C | $225K ($32K a door)

⚠️ STRAIGHT TALK FIRST

▪️ Sold as-is. The appraiser rated the condition below average to poor.

▪️ Zoned single-family, run as seven units. The seller says the city calls it legally nonconforming. Nobody has that in writing.

▪️ Three city code items from 2025 are still open. No repair obligation in the contract, but the seller says he'll work with the right buyer and take care of them in one go.

▪️ Five of the seven leases are new since August. Tenure is short and screening has been light.

▪️ Third-party management has not worked here, per the seller. It needs an owner who is present or has someone local.

▪️ It's all in the file. The terms are what you get paid for carrying it.

💰 THE TERMS

✅ Entry: $30,000 + closing costs (about $34,000 all in)

✅ Seller carries $210,000 at 5.75% FIXED

✅ 30-year amortization, 10-year balloon

✅ Payment: $1,225/mo P&I

✅ No bank. No bank appraisal. No personal guarantee.

📈 THE NUMBERS

✅ $55,025 collected in the last 12 months. Covers the note 3.7x

✅ All 7 units on written leases. 6 run into 2027

✅ Leases in place total $62,700/yr

💵 CASH FLOW AFTER DEBT

(after insurance, taxes, repairs and reserves)

▪️ Run it yourself: ~$1,245/mo = ~44% cash-on-cash

▪️ Hire a manager at 8%: ~$980/mo = ~35% cash-on-cash

▪️ Collect 92% of scheduled rent: ~$1,675/mo = ~59% cash-on-cash

🔑 THE UPSIDE IS KEEPING UNITS FILLED. Per the seller, tenants pay in full and the gap came from units sitting empty between tenants during a management gap. Hold your tenants and refill fast and you add ~$7,700/yr. No rent increase needed.

🛠️ HOW IT RUNS TODAY

▪️ 6 of 7 tenants pay digitally

▪️ Keypad locks on all 7 units with a master code

▪️ Late fee in the lease

▪️ Tenant handyman on site

🧾 CREDITS AT CLOSING: prorated taxes, tenant deposits and prorated rent come off your wire. About $24,500 total out of pocket on a Nov 6 close (estimate).

🛡️ YEAR-10 EXIT ALREADY NEGOTIATED: if your refinance comes up short, the seller subordinates and carries up to $35K for 5 more years. No second balloon.

🏢 THE BUILDING

▪️ 7 units, built 1943, Class C, all bills paid

▪️ Same owner-operator for 11 years. He is retiring from his out-of-town rentals

▪️ Seller available by phone for 60 days to hand it off

▪️ Seller pays half the inspection

👤 QUALIFIED OPERATORS ONLY. Best fit: you already run older Class C, and you know Texas or own here. Not a first multifamily deal. The seller carries 93% and approves the buyer: financial statement, portfolio summary, credit review.

⏰ Closes on or before Nov 6. One building, one buyer. Serious buyers walk it first.

👉 Comment "LONGVIEW" or DM me, and tell me when you can get out to Longview. Signed NDA + proof of funds opens the full package.

We are marketing our equitable interest under a purchase contract, not the property itself. Buyer to perform own due diligence.